Medley Capital Corporation (NYSE:MCC) Downgraded by Zacks Investment Research to “Sell”
Medley Capital Corporation (NYSE:MCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “Medley Capital Corporation is a closed-end, externally managed investment company. Medley Capital Corporation’s objective is to generate current income and capital appreciation by lending directly to privately-held small and middle market companies to help these companies fund acquisitions, growth or refinancing. Their portfolio will generally consist of first lien senior secured loans, and, to a lesser extent, second lien secured loans. In many of their investments, they will get warrants or other equity participation features which they believe will increase the total investment returns. “
A number of other equities analysts have also commented on MCC. Keefe, Bruyette & Woods set a $9.00 target price on shares of Medley Capital Corporation and gave the stock a “buy” rating in a research report on Monday, April 17th. National Securities reduced their target price on shares of Medley Capital Corporation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $6.50 target price on shares of Medley Capital Corporation in a research report on Friday, July 14th. Finally, BidaskClub lowered shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.00.
Medley Capital Corporation (NYSE:MCC) traded down 0.61% during mid-day trading on Thursday, reaching $6.53. The company’s stock had a trading volume of 310,847 shares. Medley Capital Corporation has a one year low of $5.95 and a one year high of $8.06. The firm’s 50 day moving average is $6.40 and its 200-day moving average is $7.01.
Medley Capital Corporation (NYSE:MCC) last issued its earnings results on Wednesday, August 9th. The investment management company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $23.70 million for the quarter, compared to analyst estimates of $24.67 million. Medley Capital Corporation had a net margin of 4.60% and a return on equity of 8.10%. During the same period last year, the company posted $0.20 earnings per share. On average, equities analysts forecast that Medley Capital Corporation will post $0.71 earnings per share for the current fiscal year.
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In other Medley Capital Corporation news, CEO Brook Taube acquired 124,927 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were purchased at an average cost of $6.13 per share, for a total transaction of $765,802.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Seth Taube acquired 304,128 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were acquired at an average price of $6.20 per share, for a total transaction of $1,885,593.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,247,047 shares of company stock worth $38,698,045. Insiders own 8.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Sigma Planning Corp acquired a new position in Medley Capital Corporation during the first quarter worth about $103,000. Airain ltd increased its position in Medley Capital Corporation by 2.7% in the second quarter. Airain ltd now owns 17,362 shares of the investment management company’s stock worth $111,000 after buying an additional 462 shares in the last quarter. BB&T Securities LLC acquired a new position in Medley Capital Corporation during the second quarter worth about $112,000. Malaga Cove Capital LLC increased its position in Medley Capital Corporation by 6.9% in the first quarter. Malaga Cove Capital LLC now owns 13,900 shares of the investment management company’s stock worth $114,000 after buying an additional 900 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in Medley Capital Corporation by 50.7% in the first quarter. Global X Management Co. LLC now owns 16,517 shares of the investment management company’s stock worth $127,000 after buying an additional 5,560 shares in the last quarter. Hedge funds and other institutional investors own 36.29% of the company’s stock.
Medley Capital Corporation Company Profile
Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions.
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